Almost two-thirds of the country’s million-pound earners disappeared from Britain after the introduction of the 50% top rate of tax

In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs. This number fell to just 6,000 after Gordon Brown introduced the new 50% top rate of income tax shortly before the last general election. It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable income.